05 March 2010

EUROZONE: An IMF Loan For Greece Is A Dangerous Precedent.

NYTIMES/ Analysis/    If Greece asks the IMF for help to solve its debt problems, as one minister has threatened, it would signal that Europe can't solve its own problems. “It would be damaging for the euro zone going forward because it would sow seeds of doubt about whether this is really a currency union, or just a group of countries that share a currency,” said economist Simon Tilford. No eurozone nation has borrowed from the I.M.F. since the EU's inception in 1999 and no major European nation since Britain in 1976.